Dai ichi Life Insurance Company Ltd Has $7.62 Million Stock Position in Aramark (NYSE:ARMK)

Dai ichi Life Insurance Company Ltd lifted its position in shares of Aramark (NYSE:ARMK - Free Report) by 277.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,801 shares of the company's stock after acquiring an additional 144,625 shares during the period. Dai ichi Life Insurance Company Ltd owned about 0.07% of Aramark worth $7,622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Aramark by 169.4% during the 3rd quarter. Bank of Montreal Can now owns 121,202 shares of the company's stock valued at $4,659,000 after acquiring an additional 76,214 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Aramark by 6.4% in the third quarter. Daiwa Securities Group Inc. now owns 19,286 shares of the company's stock worth $747,000 after buying an additional 1,156 shares during the period. Summit Trail Advisors LLC increased its position in Aramark by 90.6% in the third quarter. Summit Trail Advisors LLC now owns 12,298 shares of the company's stock worth $476,000 after buying an additional 5,846 shares during the period. Cerity Partners LLC increased its position in Aramark by 69.4% in the third quarter. Cerity Partners LLC now owns 27,202 shares of the company's stock worth $1,054,000 after buying an additional 11,144 shares during the period. Finally, Nicolet Advisory Services LLC acquired a new stake in Aramark in the third quarter worth $284,000.

Aramark Price Performance

ARMK stock traded up $0.39 during trading hours on Tuesday, hitting $42.25. 1,738,267 shares of the stock traded hands, compared to its average volume of 2,228,152. The stock has a 50-day simple moving average of $38.46 and a 200 day simple moving average of $35.63. Aramark has a one year low of $26.58 and a one year high of $42.41. The company has a market cap of $11.15 billion, a P/E ratio of 42.25 and a beta of 1.62. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK - Get Free Report) last announced its earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter last year, the business posted $0.64 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be given a $0.001 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark's dividend payout ratio (DPR) is 42.42%.

Analysts Set New Price Targets

Several brokerages have weighed in on ARMK. Morgan Stanley increased their target price on Aramark from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 12th. Bank of America increased their target price on Aramark from $36.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Stifel Nicolaus increased their target price on Aramark from $43.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. UBS Group increased their target price on Aramark from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on Aramark from $41.00 to $45.00 and gave the company an "overweight" rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Aramark has an average rating of "Moderate Buy" and a consensus price target of $42.23.

Aramark Profile

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.